Money is the main foundation of every business. A company can’t survive without high-quality financial management. That is why most companies utilize financial analytics software to monitor and assess the financial performance of their institution. It gives great results leading to more improved financial methods. Continue reading below to learn more information.
19+ Financial Analytics Software
3. FactSet Portfolio & Risk Analytics
6. Spreadsheet Server
9. Moneytree Plan
10. FactSet Research Management
11. Breakfree Trading
14. Invest for Excel
19. Trade Idea
What is Financial Analytics Software?
Managing finances and other types of assets is challenging as you need to calculate every tiny detail to ensure correct budgeting and forecasting. Cases in which a company spends too much money are a common issue in the business world. That is why the utilization of financial analytics software is the best choice, as it undeniably provides accurate data analysis of your finances. With such a tool on hand, you can obtain a clear vision of the cash flow of your business. Understanding your company’s financial data helps you do accurate and reliable procedures ensuring cost-effective financial maneuvers. Given that, financial analytics software is what you need.
Financial analytics software offers various benefits and advantages to every business. Businesses of all sizes need a total understanding of the financial aspects of the company to improve spending or procurement decisions. Financial analytics software helps you reach your financial goals by providing business intelligence to help your decision-making processes.
Features and functionalities differ depending on the platform. Technology companies provide various innovative attributes to your business. Some offer a free version with advanced features accessible via membership plan; some do not offer free versions but allow free trial over a certain period; while some offer both a free version and free trial. It is advisable to research to evaluate them first to make sure you purchase the best financial analytics software. Below are examples of recommended features most users find valuable:
- Cash Management
- Client Management
- Client Portal
- Portfolio Analysis
- Income & Balance Sheet
- Profit/Loss Statement
- Sales Reports
Top 10 Financial Analytics Software
1. FactSet Portfolio & Risk Analytics
FactSet Portfolio & Risk Analytics developed by FactSet Research Systems includes compliance tracking, risk management, modeling & simulation, plus more features. FactSet Research System has annual revenue of $1,376.9 million and 9,496 employees.
2. Spreadsheet Server
Spreadsheet Server developed by insightsoftware includes budgeting/forecasting, cash management, financial reporting, marketing reports, and more innovative features. Insightsoftware has annual revenue of $118.2 million and 815 employees.
Emoney developed by Emoney advisor includes fund management, performance metrics, client management, benchmarking, and more valuable features. Emoney has annual revenue of $87.1 million and 670 employees.
TradingView has charts that move markets, technical analysis, unmissable alerts, pine script, comprehensive financial analysis, and provides more features. TradingView has annual revenue of $55.8 million and 429 employees.
StyleADVISOR developed by Informa Investment Solutions includes commodity futures, portfolio analysis, portfolio management, investor reporting, and more advanced features. Informa Investment Solutions has annual revenue of $28.1 million and 139 employees.
Kensho software facilitates informed decision-making through machine learning, financial intelligence, and other advanced features. Kensho has annual revenue of $17.2 million and 132 employees.
Irwin helps you better understand changes in your shareholder base, identify and connect with high-quality investors, keep track of all your IR activity in one place, and access research, estimates, and transcripts. Irwin has annual revenue of $10.9 million and 52 employees.
RightCapital includes “what if” scenarios, asset lifecycle management, forecasting, general ledger, profit/loss statement, and more valuable features. RighCapital has annual revenue of $8.6 million and 41 employees.
Asset-Map is a financial management software that assists businesses in gaining visibility into their financial assets, cash flows, liabilities, and policies. Asset-Map has annual revenue of more than five million dollars and more than 25 employees.
10. Moneytree Plan
Moneytree Plan is a financial planning and wealth management industry advisors can trust. With features such as client management, investment management, compliance tracking, and more innovative features.
Why is financial analytics software beneficial?
Manual processes of financial analytics are time-consuming. On top of that, it sometimes gives inaccurate data analysis, leading to wrong decisions. You can obtain accurate financial data analysis with financial analytics software, ensuring reliable procedures and decision-making improvements. For this reason, financial analytics software is relied upon by various financial organizations.
What role does financial analytics play?
Financial analytics provides a 360-degree view of your company’s financial flow. Critical information such as the strong and weak points of your financial methods and decisions is visible and demonstrated lucidly. Accurate financial analytics helps your business stand longer amidst the competition while preventing bankruptcy probabilities. Given that, it shows that financial analytics plays a critical role in the business industry.
What exactly do financial analysts do?
The financial analyst helps businesses manage and analyze company finances and assets to improve financial performance and meet financial goals. Financial analysts work in a variety of industries, including banks, pension funds, insurance companies, and others. Such a profession is required, especially in large corporations where financial management is more complicated and hectic.
A business can never grow and develop without proper and accurate financial analytics. Financial analytics provides financial data of your business, helping you to obtain ideas of how your financial system works. Having a clear understanding of your financial situation allows you to create financial plans that can lead to your company’s growth and development. Choose your software wisely.
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